Common use of Borrowing Base Amount Clause in Contracts

Borrowing Base Amount. In the event that at any time either any Loan Account or the Borrowing Base Certificate most recently delivered by the Borrower to the Agent shows that the Outstanding Revolving Credit Amount exceeds the Borrowing Base, the Borrower shall repay, simultaneously with the delivery of any such Borrowing Base Certificate to the Agent or upon demand by the Agent, whichever is earlier, an amount which is sufficient to reduce the Outstanding Revolving Credit Amount so that, after such repayment, the Borrowing Base has not been exceeded. Until such repayment occurs, the Lenders shall not be required to make additional Revolving Credit Loans to the Borrower, and the Issuing Bank shall not be required to issue any Letters of Credit.

Borrowing Base Amount. In the event that at any time either any Loan Account or the Borrowing Base Certificate most recently delivered by the a Borrower to the Agent shows that the Outstanding Revolving Credit Amount exceeds the Borrowing Base, the Borrower Borrowers shall repay, simultaneously with the delivery of any such Borrowing Base Certificate to the Agent or upon demand by the Agent, whichever is earlier, an amount which is sufficient to reduce the Outstanding Revolving Credit Amount so that, after such repayment, the Borrowing Base has not been exceeded. Until such repayment occurs, the Lenders shall not be required to make additional Revolving Credit Loans to the any Borrower, and the Issuing Bank shall not be required to issue any Letters of Credit.